<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d)
of
The Securities Exchange Act of 1934
for the Quarterly Period ended September 30, 1996
______________________
Commission File No. 0-19933
TMP INLAND EMPIRE IV, LTD.
A CALIFORNIA LIMITED PARTNERSHIP
(Exact name of registrant as specified in its charter)
CALIFORNIA 33-0341829
(State or other jurisdiction of I.R.S. Employer Identification No.)
incorporation or organization)
801 North Parkcenter Drive, Suite 235 92705
Santa Ana, California (Zip Code)
(Address of principal executive office)
(714) 836-5503
(Registrant's telephone number, including area code)
______________________
Indicate by check mark whether Registrant has [1] filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or such shorter period that the registrant was
required to file such reports) and [2] has been subject to such filing
requirements for the past 90 days.
Yes [X] No [ ]
<PAGE>
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
The following financial statements are filed as a part of this Form
10-Q:
Balance Sheets as of September 30, 1996 and December 31, 1995
Statements of Income for the three and nine months ended
September 30, 1996 and 1995
Statements of Cash Flows for the nine months ended
September 30, 1996, and 1995
The accompanying unaudited interim financial statements include all
adjustments (consisting solely of normal recurring adjustments) which
are, in the opinion of management, necessary to fairly present the
financial position of the Partnership as of September 30, 1996
and the results of its operations, changes in partners'
equity, and cash flows for the periods then ended
<PAGE>
TMP INLAND EMPIRE IV, LTD.
a California Limited Partnership
<TABLE>
<CAPTION>
Balance Sheets
September 30, 1996 December 31, 1996
<S> <C> <C>
Assets
Cash $44,321 $16,769
Accounts Receivable $50 -
Investment in Unimproved Land
(Note 1) $5,633,198 $5,541,061
Prepaid Expense $5,700 -
Organizational Costs, Net (Note 1) $201 $ 1,855
Total Assets $5,683,470 $5,559,685
Liabilities and Partners Capital
Accounts Payable and
Accrued Liabilities $ - $800
Due to Affiliates $ 197 -
Property Taxes Payable $ 25,992 $90,925
Notes Payable (Note 3) 190,000 -
Commission Payable (Note 4) $70,560 $70,560
Total Liabilities $286,749 $162,285
Partners' capital
General Partners $ (21,749) ($21,742)
Limited Partners 7,250 equity $5,418,470 $5,419,142
units authorized and outstanding
Total Partners Capital $5,396,721 $5,397,400
Total Liabilities and Partners Capital $5,683,470 $5,559,685
</TABLE>
<PAGE>
TMP INLAND EMPIRE IV, LTD.
a California Limited Partnership
Statements of Income
<TABLE>
<CAPTION> Three Months Ended Nine Months Ended
Sept. 30 Sept. 30 Sept. 30 Sept. 30
1996 1995 1996 1995
<S> <C> <C> <C> <C>
Land Sales $0 $0 $0 $23,000
Cost of Land Sales $0 $0 $0 $28,807
Gross Profit $0 $0 $0 ($5,807)
Interest and Other Income $267 $122 $975 $364
$267 $122 $975 ($5,443)
General & Admin. Expense $554 $550 $1,654 $1,650
Net Loss ($287) ($428) ($679) ($7,093)
Allocation of Net Loss (Note 2):
General Partners ($ 3) ($ 4) ($ 7) ($71)
Limited Partners ($284) ($424) ($672) ($7,022)
Limited Partners, per unit ($.04) ($.05) ($.09) ($ .83)
</Table
<PAGE>
TMP INLAND EMPIRE IV, LTD.
a California Limited Partnership
</TABLE>
<TABLE>
<CAPTION>
Statement of Cash Flows
Nine Months Ended September 30,
1996 1995
<S> <C> <C>
Net Income (Loss) $ (679) $ (7,093)
Non-cash adjustments:
Amortization of organization costs 1,654 1650
Adjustments to reconcile net income (loss)
to net cash used in operating activities:
Increase in investment in unimproved land (92,137) (44,588)
Increase in Receivables (50) -
Increase in Prepaid Expense (5,700) -
Increase (Decrease) in Accounts Payable
and Accrued Liabilities (603) (598)
Increase (Decrease) in Taxes Payable (64,933) 40,943
Net Cash provided by (used in)
Operating Activities $ (162,448) $ (9,686)
Increase in Notes Payable 190,000 $ -
Net Cash provided by Financing Activities $ 190,000 $ -
Net Increase (Decrease) in Cash $ 27,552 $ (9,686)
Cash, Beginning of Period $ 16,769 $ 28,547
Cash, End of Period $ 44,321 $ 18,861
</Table
<PAGE>
TMP INLAND EMPIRE IV, LTD
a California Limited Partnership
Notes to the Financial Statements
For the Three and Nine Months Ended September 30, 1996
(Unaudited)
NOTE 1 - Summary of Significant Accounting Policies
Accounting Method - TMP Inland Empire IV, Ltd. (the Partnership) prepares its
financial statements on the accrual basis of accounting.
Organization Costs - Organization costs include expenses incurred in the formation
of the Partnership that have been capitalized and that have been amortized over a
period of 40 years prior to 1992 and are being amortized over five years beginning
in 1992.
Investment in Unimproved Land - The Partnership's land is stated at the lower of
actual cost or market value, based on specific identification. All costs
associated with the acquisition of a property are capitalized. In addition, the
Partnership capitalizes all carrying costs.
Income Taxes - The entity is treated as a partnership for income tax purposes
and any income or loss is passed through and taxable at the partner level.
Accordingly, no provision for federal income taxes is provided.
NOTE 2 - Allocation of Profits, Losses and Cash Distributions
Profits, losses, and cash distributions are allocated 99 percent to the limited
partners and one percent to the general partners until the limited partners have
received an amount equal to their capital contributions plus a cumulative, non-
compounded return of six percent per annum based on their adjusted capital account
balances. At that point, remaining profits, losses and cash distributions are
allocated 85 percent to the limited partners and 15 percent to the general
partners.
As of September 30, 1996 and 1995, profits, losses and cash distributions were
allocated 99 percent to the limited partners and one percent to the general
partners.
NOTE 3 - Note Payable
As of September 30, 1996, the Partnership had a note payable secured by Partnership
land. The note bears interest at 12 percent per annum and matures
February 1, 1999.
NOTE 4 - Commissions Payable
As of September 30, 1996 and 1995, the Partnership had a payable to a related party for
services rendered relating to sales of properties in 1989 and 1990.
<PAGE>
TMP INLAND EMPIRE IV, LTD.
a California Limited Partnership
For the Three and Nine Months Ended September 30, 1996
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
Partnership revenues during the three and nine month periods ended September 30, 1996
and 1995 consisted primarily of interest income. During the nine months
ended June 30, 1995, the Partnership sold one parcel of land at a loss of $5,807.
There were no properties sold during 1996.
Operating activities for the nine months ended September 30, 1996 used approximately
$162,000 of cash to pay for carrying costs of the land held for investment and to
pay accrued but unpaid property taxes. Financing activities provided $190,000 from a
note secured by Partnership land.
During the nine months ended September 30, 1995, net operating activities used
approximately $10,000 relating to the carrying costs of the land held for investment.
The Partnership had seven properties as of September 30, 1996 that are being held for
appreciation and resale. Upon the sale of each property, the Partnership intends
to distribute the sales proceeds, less any reserves needed for operations, to the
partners.
Management believes that the Partnership has sufficient cash to meet the
anticipated cash requirements of the Partnership for the next twelve months.
<PAGE>
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 12, 1996
TMP INLAND EMPIRE IV, LTD.
a California Limited Partnership
By: TMP Investments, Inc., as General Partner
\s\ William O. Passo
By:___________________________________
William O. Passo, President
\s\ Jenny Rex
By:___________________________________
Jenny Rex, Secretary
\s\ Michael Sun
By:___________________________________
Michael Sun, Chief Financial Officer
By: TMP Properties, a California General
Partnership as General Partner
\s\ William O. Passo
By:___________________________________
William O. Passo, General Partner
\s\ Anthony W. Thompson
By:___________________________________
Anthony W. Thompson, General Partner
\s\ Scott E. McDaniel
By ____________________________________
Scott E. McDaniel
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000885051
<NAME> TMP INLAND EMPIRE II, LTD.
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> SEP-30-1996
<CASH> 44321
<SECURITIES> 0
<RECEIVABLES> 5951
<ALLOWANCES> 0
<INVENTORY> 5633198
<CURRENT-ASSETS> 5683470
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 5683470
<CURRENT-LIABILITIES> 286749
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 5396721
<TOTAL-LIABILITY-AND-EQUITY> 5683470
<SALES> 975
<TOTAL-REVENUES> 975
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 1654
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (679)
<INCOME-TAX> 0
<INCOME-CONTINUING> (679)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (679)
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
